Namo eWaste Management Limited IPO

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Namo eWaste Management Limited is a specialized e-waste collection, disposal, and recycling company that provides comprehensive services for managing electrical and electronic equipment (EEE) waste. Their operations focus on recycling a broad range of electronic items, including air conditioners, refrigerators, laptops, phones, washing machines, fans, and more.

Core Services

Their service portfolio is designed to address the entire lifecycle of electronic products, from collection and recycling to data destruction and refurbishment. Key services include:
i. Electronic Recycling: They process end-of-life electronic products that cannot be refurbished. This involves collecting, sorting, dismantling, and recycling to recover valuable materials such as copper, aluminum, iron, plastic, zinc, and brass scrap. Hazardous elements are disposed of safely to prevent environmental contamination.
ii. Data Destruction and IT Asset Disposition: They ensure the secure destruction of data stored on IT assets through methods like data degaussing, hard disk shredding, and software data destruction. This service is crucial for preventing unauthorized access and data breaches.
iii. Refurbishment: Functional but outdated electronic products are tested, repaired, and cleaned to restore them to a usable condition. They have experience refurbishing IT products from brands like Apple, HP, Lenovo, and Dell. Refurbished items are then repackaged and sold through various channels.
iv. Extended Producer Responsibility (EPR) Services: They assist producers in meeting their EPR obligations under the E-Waste Management Rules 2022. This includes compliance auditing, reporting, return filing, and raising awareness about safe e-waste disposal. EPR is a policy approach where producers are responsible for the entire lifecycle of their products, including end-of-life disposal.

Sustainability and Environmental Commitment
They are deeply committed to sustainability and environmental stewardship. Their recycling processes are designed to recover valuable materials from e-waste while minimizing the release of harmful chemicals into the environment. They also actively promote public awareness through campaigns, collection drives, and educational events to encourage the safe disposal of e-waste.

Conclusion

Namo eWaste Management Limited stands as a leader in the e-waste management sector, offering a comprehensive range of services that ensure the safe, efficient, and environmentally responsible handling of electronic waste. With a strong focus on innovation, customer satisfaction, and sustainability, they continue to expand their operations and enhance their service offerings. Their commitment to the environment, combined with their strategic growth initiatives, positions them as a key player in the rapidly evolving e-waste management industry.

Objects of the Namo eWaste Management Limited IPO:

The company intends to utilize the proceeds of the Issue to meet the following objectives: i. Funding the Capital Expenditure requirements of their subsidiary i.e. Techeco Waste Management LLP, towards setting up of a new factory unit at Nashik. ii. To Meet Working Capital Requirement. iii. General Corporate Purpose.

Namo eWaste Management Limited IPO Details:

Open Date: Sep 04 2024
Close Date: Sep 06 2024
Total Shares: 6,024,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 51.20 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 80 - 85 Per Equity Share
Listing At: NSE Emerge
Listing Date: Sep 11 2024

Promoters And Management:

Akshay Jain, is the Promoter and Managing Director of the Company. He has been associated with the Company since incorporation. He has completed his Master of Arts in international Business from University of Greenwich, London in 2013. He has a work experience of more than 9 years in the field of E-Waste Management Industry. He has been instrumental in taking major policy decision of the Company. He is playing vital role in formulating business strategies and effective implementation of the same. He is responsible for the expansion and overall management, Secretarial & legal, accounts & finance, customer Relationship Management of the business of the Company. Parikshit Satish Deshmukh, is a Whole Time Director of the Company. He has completed his Master of Arts in international Business from Teesside university, United Kingdom in 2016. He has a work experience of more than 5 years in the field of recycling Industry. He looks after the sales & marketing, Human Resource Administration of the company. Ujjawal Kumar, is a Non-Executive Director of the Company. He has completed his Bachelor of Technology (B.Tech.) from Maharshi Dayanand University Rohtak in 2016. He has a work experience of over 8 years in the E-Waste Recycling Industry and is responsible for handling procurement of E-waste material, General Administration of the company.

Financials of Namo eWaste Management Limited IPO:

Particulars ( In Lakhs )
2022
2023
2024
Revenue from Operations 4,478 5,845 10,093
Other Income 31 11 14
Total Revenue 4,509 5,856 10,108
Cost of Material Consumed 4,480 4,224 7,671
Changes in inventories -743 656 46
Employees Benefit Expenses 147 194 320
Other Expenses 332 379 923
EBITDA 294 402 1,148
OPM (%) 6.51% 6.87% 11.36%
Depreciation & Amortisation 34 45 117
EBIT 259 357 1,031
Finance Cost 18 34 117
PBT 242 323 914
Tax 61 81 231
PAT 181 242 683
NPM (%) 4.01% 4.12% 6.76%
No.of Shares 228.67 228.67 228.67
EPS 0.79 1.05 2.98

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Namo E-Waste Management Limited 101 7 2.98 28.5 85 194
Eco recycling Limited 28 16 8.39 91.8 946 1,826
Cerebra Integrated Technologies Ltd 52 -48 -3.99 N/A 14.7 178
* All the data is as per FY24.

Recommendation on Namo eWaste Management Limited IPO:

1. Namo eWaste Management Limited is a dedicated E-Waste collection, disposal, and recycling company that offers a comprehensive suite of services for the recycling of electrical and electronic equipment (EEE) waste. 2. Their services cover a wide range of products including air conditioners, refrigerators, laptops, phones, washing machines, fans, and more. 3. Their company is committed to managing large volumes of EEE waste, focusing on the safe recovery of valuable components such as copper, aluminium, and iron. The recycling process also involves careful handling of complex materials like batteries, plastics, glass, and ferrous and non-ferrous metals to prevent the release of harmful chemicals into the environment. 4. Services Offered i. Electronic Recycling                                                                         ii. Refurbishment iii. Extended Producer Responsibility (EPR) Services 5. Competition The E-waste recycling industry is highly competitive, with key factors of competition including product quality, cost, delivery, development, and management. They compete with other E-waste management service providers both globally and within India. 6. The Revenue has Increased from Rs.45 Crores in FY22 to Rs.101 Crores in FY24. 7. The EBITDA has Increased from 3 Crores in FY22 to 11 Crores in FY24. 8. The PAT has Increased from 2 Crores in FY22 to 7 Crores in FY24. 9. As per FY24, CFO/EBITDA is 0.99, and EPS is 2.98, 10. Market Capitalization is 194 Crores and P/E is 28.5x based on FY24.

Lead Manager of Namo eWaste Management Limited IPO:

  1. Hem Securities Limited

Registrar of Namo eWaste Management Limited IPO:

  1. Maashitla Securities Pvt. Limited

Company Address:

Namo eWaste Management Limited B-91, Private No. A-6, Basement, Main Road, Kalkaji, South Delhi, New Delhi-110019 Phone: +91-129-4315187 Email: cs@namoewaste.com Website: http://www.namoewaste.com/

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